Here's your December 2022 Coeur d'Alene Area Real Estate Market Update
These statistics are based on Previously Owned Residential Homes.
New Listings: 92 down 11.5% compared to December 2022.
Pending sales: 113 down 19.3% compared to December 2022.
Closed Sales: 104 down 57.7% compared to December 2022.
Days on Market Until Sold: 80 up 9.6% compared to December 2022.
Average Sales Price: $511,000 down .8% compared to December 2022.
Percent to List Price Received: 95.9% down 3.6% compared to December 2022.
Months of Inventory 1.7 up 240% compared to December 2022.
Even though inventory is up 240% when comparing to December 2022, the number of homes on the market is still low. A balanced market is around 4 months of inventory and we are sitting around 1.7 months.
The buyer demand is lower than it was 8 months ago and you can see that by the drop of number of closed sales.
What does all this mean?
If you are a buyer: You have less competition between other buyers. You now have an opportunity to negotiate in most cases.
If you are a seller: You need to price your home aggressively and be willing to negotiate.
If you have any questions about buying or selling a home in North Idaho, please call/ text or email me.
Laurel Jonas
208-758-9000
Northwest Realty Group
208homesforsale@gmail.com
208homesforsale.com
